Price to Book Value (P/BV)
since 2020
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Palantir Technologies Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2020
- Debt to Equity since 2020
- Total Asset Turnover since 2020
- Price to Operating Profit (P/OP) since 2020
- Analysis of Revenues
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Calculation
Palantir Technologies Inc., P/BV, long-term trends, calculation
| P/BV | = | Share price1, 2, 3 | ÷ | Book value per share1 (BVPS) | BVPS1 | = | Total Palantir’s stockholders’ equity1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 18, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2021 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Palantir Technologies Inc. Annual Report.
The price-to-book value (P/BV) ratio for the observed period demonstrates significant fluctuation. Initially, the ratio exhibited a substantial decline followed by a period of increase, culminating in a high value at the end of the observation window.
- Overall Trend
- The P/BV ratio began at 28.60 in February 2021, decreased to a low of 6.94 in February 2023, and then increased sharply to 58.42 in February 2025 before moderating slightly to 43.07 in February 2026. This indicates a period of decreasing investor valuation relative to book value, followed by a substantial re-evaluation.
- Initial Decline (2021-2023)
- From February 2021 to February 2023, the P/BV ratio experienced a consistent downward trend. This coincided with a relatively stable book value per share, while the share price decreased significantly. The decline suggests that the market’s perception of the company’s value, relative to its net asset value, diminished during this period.
- Subsequent Increase (2023-2026)
- Beginning in February 2024, the P/BV ratio began to increase substantially. This increase occurred alongside both a rising share price and an increasing book value per share. The share price experienced a more rapid increase than the book value per share, driving the P/BV ratio higher. The ratio’s peak in February 2025 suggests a significant shift in investor sentiment, potentially reflecting increased confidence in the company’s future prospects.
- Book Value Per Share
- Book value per share demonstrated a consistent upward trend throughout the entire period, increasing from US$0.84 in February 2021 to US$3.09 in February 2026. This indicates a steady growth in the company’s net asset value over time.
- Share Price
- The share price exhibited volatility. It decreased from US$23.90 in February 2021 to US$8.47 in February 2023, then increased dramatically to US$124.62 in February 2025, and concluded at US$133.02 in February 2026. This suggests significant shifts in market expectations and investor demand.
The observed fluctuations in the P/BV ratio suggest a dynamic valuation influenced by both changes in the company’s underlying asset value and shifts in investor sentiment.
Comparison to Competitors
Palantir Technologies Inc., P/BV, long-term trends, comparison to competitors
| Palantir Technologies Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | CrowdStrike Holdings Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 17, 2026 | ||||||||||||||||
| Feb 18, 2025 | ||||||||||||||||
| Feb 20, 2024 | ||||||||||||||||
| Feb 21, 2023 | ||||||||||||||||
| Feb 24, 2022 | ||||||||||||||||
| Feb 26, 2021 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Comparison to Sector (Software & Services)
Palantir Technologies Inc., P/BV, long-term trends, comparison to sector (software & services)
| Palantir Technologies Inc. | Software & Services | |
|---|---|---|
| Feb 17, 2026 | ||
| Feb 18, 2025 | ||
| Feb 20, 2024 | ||
| Feb 21, 2023 | ||
| Feb 24, 2022 | ||
| Feb 26, 2021 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
Comparison to Industry (Information Technology)
Palantir Technologies Inc., P/BV, long-term trends, comparison to industry (information technology)
| Palantir Technologies Inc. | Information Technology | |
|---|---|---|
| Feb 17, 2026 | ||
| Feb 18, 2025 | ||
| Feb 20, 2024 | ||
| Feb 21, 2023 | ||
| Feb 24, 2022 | ||
| Feb 26, 2021 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).